Hi Daniel,
Yes, you can create a screen sharing/ Co Browsing application using LCCS.
Screensharing functionality became available with LCCS 1.2.0 (back in August 2010) and will be available moving forward (so feel free to get the latest and greatest SDK - LCCS 1.3.7).
We will make sure to correct our FAQ.
Sorry for the confusion,
Julien
LCCS Quality Engineering